Two Proposals

CEAT Kelani Holdings Managing Director Ravi Dadlani (right) and Lanka Ashok Leyland CEO Umesh Gautham exchange the OEM agreement

Two parties had expressed interest to invest in some of the thirteen bus companies the government wants to privatise.
The evaluation of the bids are underway with the sale expected to happen next Thursday through the Colombo Stock Exchange.rn

rnThe potential investors however have only shown interest in up to nine of the thirteen regional bus companies the government wants to sell.rn

rnThe Public Enterprise Reform Commission (PERC) earlier announced plans to divest a 39 percent stake in the transport companies with the investors also getting management control.rn

rnThe twice-delayed sale initially attracted over half a dozen bidders.rn

rnHowever many of these companies fell by the wayside unable to get bank financing for the investments.rn

rnThe qualified bidders will be expected to put up a five percent bid bond before the deal hits the Colombo market on Thursday.(LBR)rn

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